The market is a bit nervous going into the OPEC meeting, but the real nervousness stems from the fact that we got some more earnings warnings which is making the market quite defensive.

What we're going through is a market finding itself in a very nervous state and is preparing itself for third-quarter earnings, ... As we wait for the earnings to come out, the market feels the weight of the continued carnage in 'new economy' stocks. Dell's announcement was certainly no help in reversing market psychology.

There's a lot of nervousness in the markets already, but what do you get nervous about now. The fact that tankers aren't being used as much as last year implies that supplies are getting through.

What we're seeing is the opposite of two years ago, when every Tom, Dick and Harry was in the market. Now, everybody is shying away from that.

I think what we are experiencing here is a classic stampede of bulls in a long-term bull market,

I think the market has gone ahead of itself and I am looking for this market to pull back somewhere between five and six percent within the next six to seven weeks.